Upcoming Events

National | Anti-Capitalism

no events match your query!

User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Orwell’s 1984 arrives in 2018 Ireland

offsite link Elaine Byrne: Not speaking full truth to power Anthony

offsite link Israel/Ireland: Corruption comparison Anthony

offsite link Irish cowboy town and fake regulatory agencies Anthony

offsite link Elaine Byrne: Failing to join up the dots on state corruption Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Change of Saker snail mail address Thu Apr 19, 2018 18:19 | The Saker
Dear friends, For a few years I used a PO Box in Edgewater, Florida but after having an almost infinite amount of frustrating problems with the gross incompetence of the

offsite link Statement of A.Shulgin at the OPCW EC Thu Apr 19, 2018 17:49 | The Saker
Mr. Chairperson, I would like to start my speech with the words that belong to the great thinker Martin Luther, ?A lie is like a snowball: the further you roll

offsite link After Washington?s aggression: Syria will win Thu Apr 19, 2018 15:54 | The Saker
By Aram Mirzaei for the Saker blog One week after the latest US aggression against Syria, the Syrian Army and its allies have spared no efforts in continuing their raging

offsite link Syria, Iran and ?chaos in international relations? Thu Apr 19, 2018 15:50 | The Saker
by Pepe Escobar (cross-posted with the Asia Times by special agreement with the author) Even in the context of a post-truth geopolitical environment run amok, Russian President Vladimir Putin telling

offsite link Sharing the tension, the drama, the agony, the beauty, the nostalgia, the despair and the serenity Thu Apr 19, 2018 06:23 | The Saker
We are living in scary times.  And I won’t pretend I don’t feel despair – I do.  But since we can’t control our future, and since our days are counted,

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link #abortiontravel Kath Browne & Catherine Nash on ?Love both?: Naming Heteroactivism? Tue Apr 17, 2018 13:01 | GuestPost

offsite link #abortiontravel Katherine Side on ?Medical Abortion Use: Post-Referendum Possibilities? Mon Apr 16, 2018 14:01 | GuestPost

offsite link Blog Carnival: Spatiality and Abortion Travel Mon Apr 16, 2018 13:58 | Fiona de Londras

offsite link Repeal and Replace? Sat Jan 20, 2018 12:58 | Fiona de Londras

offsite link Shifting Sands Under the Abortion Debate Mon Jan 15, 2018 09:30 | GuestPost

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Tonight Wed 18st Apr 2018 ? Cois Life Bar ? Liberty Hall 18:08 Thu Apr 19, 2018 | WorldbyStorm

offsite link Signs of Hope ? A continuing series 13:08 Thu Apr 19, 2018 | WorldbyStorm

offsite link Any passport so long as it?s blue? or EU procurement rules preconceptions? 11:15 Thu Apr 19, 2018 | WorldbyStorm

offsite link Plotting to bypass Britain..? 10:14 Thu Apr 19, 2018 | WorldbyStorm

offsite link IT Poll FG down, SF up 07:41 Thu Apr 19, 2018 | WorldbyStorm

Cedar Lounge >>

42% of Europe’s banking crisis paid by Ireland

category national | anti-capitalism | other press author Wednesday January 16, 2013 23:00author by fred Report this post to the editors

An article in the examiner states that 42% of Europe’s banking crisis is being paid by Ireland. Thats from a tiny population of 4 million. This is a completely ridiculous state of affairs.

The Examiner penned an article putting a little pressure on the Taoiseach and his FG minions today. It claims that in real terms Ireland has shouldered 42% of the European banking crisis. Those waiting in line at soup kitchens, those surviving in negative equity and other victims of what are euphemistically referred to as "austerity measures" here and those whose businesses have collapsed as the local economy has been hollowed out through lack of bank lending and consumer spending by a cash strapped frightened public, will not be very surprised at this analysis.

Quote:
"The figures show that while the banking crisis cost Berlin €40bn, Ireland is liable for €41bn. With fractions of the population and GDP of the EU’s biggest state, the crisis has cost Ireland 25% of GDP and Germany 1.5%.

Taoiseach Enda Kenny is due to speak in the European Parliament today on the country’s work during its six months at the helm of the EU and is expected to address bank debt and the need for solidarity.

Labour MEP Nessa Childers urged him to point out that the bank debt is neither just or sustainable and must be written down if Ireland is to exit the bailout programme.

“Without burden sharing on banking debt in Europe, any pretence of solidarity left in the EU will be extinguished. If we have no burden sharing on bank debt, if the failed policies of austerity are pushed and pushed, what in the end will be left of our communities, our economies and our democracies?” she asked.

Michael Taft, research officer with the Unite trade union, said the Eurostat figures show that Ireland is a special case and requires a special solution.

“The Government has a real challenge in the negotiations over bank debt. But there is a bottom line here. If any deal does not qualitatively alter these dismal statistics, then it won’t be a deal worth applauding.

“If people are still paying nearly €9,000 each while the remainder of the EU pays only a fraction of that, then it is no deal at all; just a rearranging of euro notes on the decks of a sunken ship,” Mr Taft said.

The average banking crisis debt across the EU is €192 per person, and the figure of €9,000 for each Irish person does not take into account the €18bn put in from the National Pension Reserve Fund. "


Full article here:
http://www.irishexaminer.com/ireland/42-of-europes-bank....html

author by Tpublication date Thu Jan 17, 2013 23:10Report this post to the editors

I find that €40 billion figure as the only amount paid out by Germany too hard to believe. I am reasonably sure they have paid out more.

As far as I remember the German's had to bailout one of their own banks Depfa which just before the boom changed its headquarters to the IFSC in Dublin from Germany but due to some legal issue, we avoided having to bail that out too and it cost the Germans over €100 billion, but there were other banks in Germany that went under and were bailed out.

Anyhow in a separate issue there is an interesting site called BondWatch that is tracking what has been paid so far in bonds.

Related Link: http://bondwatchireland.blogspot.ie/
 
© 2001-2018 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy